Drama on Wall Street: A well-known Israeli stock crashed by more than 30%
The reporting season in New York is hitting local companies, as alongside an unusual collapse of an energy giant, another Israeli stock actually surprised investors and jumped by tens of percent.
Trading on Wall Street closed with a mixed trend, as the Dow Jones index managed to stand out positively and added about half a percent to its value. On the other hand, technology stocks weighed on the Nasdaq, which lost about 0.8%, while the S&P 500 index settled for a moderate decline of about 0.15%.
In the commodities market, a diverse picture was recorded. Oil prices fell to their lowest level in about four weeks, partly against the backdrop of a certain decrease in tensions with Iran, which hurt energy stocks. In contrast, the metals market provided a tailwind for investors. Copper futures jumped to a historic high, against the backdrop of expectations for continued high demand from the artificial intelligence industry, while the price of gold climbed by almost 4% to a level of about 4,310 dollars per ounce and gave a significant boost to the stocks of gold mining companies.
The reporting season continued to produce sharp fluctuations in stocks. Disney stood out with a rise after investors reacted positively to results that were considered mixed, but testified to business resilience. Shopify strengthened following a positive growth forecast for the next quarter, and Amgen reached a year-high after beating analyst forecasts and even raising its annual forecast. Eli Lilly also continued to enjoy high demand for its weight loss and diabetes drugs, while Nvidia benefited from the positive momentum created by the surge in copper prices.
Gold mining companies, including Freeport-McMoRan, Newmont, Gold Fields, and Barrick Mining, recorded sharp gains, alongside the strengthening of Kratos in the defense sector. Bank of America, Charles Schwab, and GE Aerospace also ended the day with gains and approached record levels.
On the negative side of trading, SpaceX stood out, losing value after investors reacted to a significant increase in capital expenditures in the first reports since the IPO. Alphabet also fell following organizational changes in the artificial intelligence divisions and the departure of the chief scientist. AMD weakened after the reports and forecast failed to impress the market, and Insulet plunged after lowering its growth forecast in the United States. Energy stocks, including EOG Resources, Diamondback Energy, and APA, also traded lower following the weakness in oil prices.
Israeli companies trading in New York also showed unusual volatility as part of the reporting season for the second quarter of 2026. SolarEdge crashed by more than 30% after publishing a disappointing revenue forecast for the third quarter, despite an improvement in net loss and an increase in revenue. The weak forecast managed to erase the gains recorded in the stock in the days preceding the publication.
Taboola also suffered a heavy blow after failing to meet revenue forecasts and presenting a weak forecast for the rest of the year. In addition, the company reported a significant decrease in free cash flow, while changes in Google's policy and the cessation of activity with some content sites also had an impact, even though the company managed to turn a net profit.
On the other hand, Kaltura provided one of the biggest surprises of the trading day. The company's stock jumped by tens of percent after reporting a 5% increase in revenue, an improvement in profitability, and a significant reduction in losses. Investors focused mainly on the adoption rate of the company's artificial intelligence solutions, including new deals based on smart avatars, a figure that overshadowed concerns about a possible slowdown in growth in the future.
In the energy sector, a mixed trend was recorded. WTI oil futures fell by about 0.86% to a level of 75.12 dollars per barrel, while Brent oil maintained relative stability with a marginal increase of about 0.08% to a level of 79.42 dollars per barrel.
